Business news from Ukraine

Business news from Ukraine

SOME 3,100 UKRAINIANS REPORT INCOMES OF MORE THAN UAH 1 MLN IN 2019

Ukrainians declared UAH 871 million of income tax and UAH 120 million of military tax as of May 14, 2020. In particular, some 3,150 citizens reported incomes in the amounts of more than UAH 1 million. In general, the will pay UAH 393 million of income tax and UAH 47 million of military tax.
The State Tax Service of Ukraine reported on its website that the majority of citizens, who declared more than UAH 1 million in incomes in 2019, are as usually registered in Kyiv – around 1,200 taxpayers.
“Kharkiv and Dnipropetrovsk regions have 278 and 270 millionaires, respectively,” it said.
The State Tax Service also said that the income declaring campaign for 2019 has been prolonged until July 1, 2020. The deadline for submitting declarations is June 30, 2020.

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UKRAINIAN PRESIDENT: BUILDING OF SUCCESSFUL EUROPE CANNOT BE COMPLETED WITHOUT UKRAINE

Ukrainian President Volodymyr Zelensky is convinced that the “Ukraine is Europe” slogan should not be formal, which Ukrainians recall once a year, it should be part of their consciousness. “I have always said that Europe is, first of all, a way of thinking. Europe begins with each of us, with each citizen, with the observance of laws, payment of taxes, protection of democratic values and civil society, free expression of will, freedom of speech, thought and religion, equality and respect, with the “allergy” to taking or giving bribes, with a properly parked car and a cigarette butt thrown into the garbage bin. Let’s make Europe Day every day,” he wrote on his page in the Facebook social network on the occasion of Europe Day.
Zelensky recalled that the European friends of Ukraine in 2020 marked the 70th anniversary of the Schuman Declaration, with which the European Union actually began its countdown.
“The words of Robert Schuman are still relevant today: “Europe will not be made all at once, or according to a single plan.” The building of a united, prosperous and successful Europe continues. It is obvious to me that this process cannot be considered completed without Ukraine. We believe that this day will definitely come, and our state will be a full part of the European family!” the President of Ukraine said.

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SURPLUS OF UKRAINE’S FOREIGN TRADE IN SERVICES 2.9% DOWN IN Q1

The surplus of Ukraine’s foreign trade in services in the first quarter of 2020 decreased by 2.9% compared to the same period in 2019, to $1.446 billion against $1.489 billion respectively, the State Statistics Service has reported.
According to its data, export of services in January-March 2020 decreased by 1.8%, to $2.825 billion, imports by 0.7%, to $1.379 billion.
The ratio of coverage of import by export amounted to 2.05 (in the first quarter of 2019 some 2.07).
Foreign trade operations were carried out with partners from 206 countries of the world.

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TASCOMBANK, RAIFFEISEN BANK AVAL JOIN AFFORDABLE LOANS 5-7-9% PROGRAM – REGULATOR

TAScombank and Raiffeisen Bank Aval (both are located in Kyiv) signed an agreement with the Entrepreneurship Development Fund on Thursday, May 14, on participation in the Affordable Loans 5-7-9% government program to support small and medium-sized businesses, Director of the Entrepreneurship Development Fund Ruslan Hashev has said.
“Today we sign agreement with two new banks. These are TAScombank under 5-7-9% rates and Raiffeisen Bank Aval as participants,” he said during a roundtable conference of the Financial club on Thursday.
Hashev said that as of May 14, due to frequent refusals from banks, just 452 loans were issued under the Affordable Loans 5-7-9% program. The main reasons for the refusals were the non-compliance of the borrowers with the criteria of the program or the requirements of banks, as well as the previous ban on combining different types of support.

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AREA UNDER SUGAR BEET CROPS REDUCED BY 5% IN UKRAINE – UKRTSUKOR

Ukraine sowed some 209,000 hectares with sugar beet as of May 13, 2020, which is 5% less than in 2019, the National Association of Sugar Producers Ukrtsukor has said.
The association said in a statement on Friday that apart from a reduction in area under crops the season is also characterized by less favorable weather conditions, which, in turn, may significantly affect the crop yield.
“This year the sowing campaign was very complicated as snowless winter and the absence of precipitations caused a lack of moisture in soil. Hence, we have dust storms and dry wind. Then April drought changed with May rainfalls and freezing weather, while a part of crops was attacked by insects in Vinnytsia, Poltava and Khmelnytsky regions. All these factors may have a negative impact on growth of root crops, and as a result they will lose mass and sugar content,” Ukrtsukor analyst Nazar Mykhailovyn said.
Traditionally, the largest share of crops falls to Vinnytsia region – 23%, which is followed by Poltava region with 12.9% and Khmelnytsky region with 11.2%. Kyiv region ranked fourth with 10.8%.
As reported, sugar production in Ukraine in the 2019/2020 marketing year (MY, September-August) decreased by 19% compared to the previous MY, to 1.48 million tonnes. A total of 33 sugar refineries were operating during the season.

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NOVA POSHTA LAUNCHES DELIVERY OF MEDICAL GOODS FROM DOC.UA

The Nova Poshta Group launches delivery of medical goods from the DOC.ua online medical service to its offices, automated parcel lockers and directly to customers.
The company said in its press release disseminated on Friday that Nova Poshta will deliver medicines, which are remotely recommended by doctors on the DOC.ua hub and can be ordered on the website in the Pharmacy section.
“Under conditions of the quarantine and the penetration of contactless services in all spheres of our life, demand for qualified medical online consultation is growing. When one is unable to visit a clinic, remote communicational with a doctor is in fact the only reliable way to receive aid. This is a positive trend which shows that Ukrainians care about their health: they trust specialists and prefer them to self-treatment. On our behalf we support this important initiative of DOC.ua with timely delivery of medicines,” the press service quoted Nova Poshta CEO Oleksandr Bulba as saying.
DOC.ua said that the service was developed as an alternative to self-treatment. Doctors cannot prescribe treatment or medicines, but only recommend. Patients on their own add medical goods to the chart in the Pharmacy section.
The DOC.ua service, which is a part of EFI GROUP, is a medical online hub founded in 2014. Its base currently includes more than 10,000 doctors and 1,500 medical institutions in Ukraine.
Alfa-Bank raises UAH 660 mln of UAH 2.4 bln of NBU’s first refinancing for five years
KYIV. May 15 (Interfax-Ukraine) – On May 8, Alfa-Bank (Kyiv) took part in the first tender of the National Bank of Ukraine (NBU) for refinancing to banks for a period of one to five years and raised UAH 660 million for five years on security of domestic government loan bonds issued with the aim of supporting the economy, the bank said in a statement on its website on Thursday, May 14.
“Alfa-Bank Ukraine will use the raised funds to develop its loan support for businesses, which currently need a long-term financial resource to restore their active operation as soon as possible after lockdown restrictions are removed,” the bank’s press service said.

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